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According to an insider, there is one Agreement between the Chinese owner of TikTok, Bytedance, and the US government. on the future of the app’s American business. According to a new draft from the US Treasury, which Bytedance has already approved, US companies Oracle and WalMart and US shareholders of Bytedance should own at least 60 percent of TikTok, a person informed of the news told the news agency on Thursday. the situation. Reuters.
US President Donald Trump describes TikTok as a security risk on the grounds that Chinese authorities could access Americans’ data. TikTok and Bytedance deny it. On September 20, the deadline established by Trump in an executive order ends; After that, US citizens and US companies can no longer do business with TikTok, threatening the end of the app in the US There are around 100 million users there. A TikTok agreement must be approved by the president.
According to the document of the United States Department of the Treasury, a new company will be named TikTok Global It is run by an American and has an American majority on its board of directors. Software company Oracle, which had initially sought a partnership with TikTok, now wants 20 percent of the shares acquire.
According to Trump, Microsoft is still in the race
Trump himself said Thursday Surprised: “I think Microsoft is still there too.” The company had negotiated the purchase of the TikTok business in the US and other countries, but announced a few days ago that its offer had been rejected by Bytedance.
The Microsoft talks had also been torpedoed by the Chinese government: they introduced a rule according to which they must accept the sale of software algorithms abroad. The heart of TikTok is the recommendation algorithm, it decides which videos are suggested to a user next.
A replacement plan was then quickly drawn up, under which Oracle would act as TikTok’s technology partner and the global video applications business would be incorporated into a new US-based company.
According to media reports, Oracle should take over the storage of US user data and also Learn about the softwareso there are no back doors for the Chinese authorities.
Co-founder of Instagram as director of TikTok Global?
Broadcaster CNBC reported that TikTok Global could on the stock market in a year be brought. The New York Times wrote as The candidate for the position of boss is Kevin Systrom, one of the founders of Instagram. Systrom left Instagram after Facebook’s acquisition, reportedly due to disagreements with Facebook CEO Mark Zuckerberg.
The financial service “Bloomberg” wrote that Bytedance was confident that Chinese government approval to get the current offer. As long as the algorithms don’t change hands, this also applies in the event that the Chinese company had to hand over the majority to TikTok, he said, citing insiders.
